Global Systems and Governance Flashcards
What are the dimensions of globalisation
the flow of capital labour products services and info
global marketing
global patterns of production distribution and consumption
what is globalisation
process by which national economies are becoming increasingly integrated through the global network of trade, communication, transportation and immigration
what are flows of capital
involve the physical transfer of production resources but usually refers to the flow of money for trade, investment or production
what is deregulation
the removal of government rules, regulation and law from the operation of businesses, lead to the businesses no longer being confined within national boundaries.
what are the flows of capital
FDI- foreign direct investment
repatriation of profits
aid
remittance payments
explain FDI
investment made by government or large company (TNCs) into the physical capital or assets of foreign enterprises. developed economies dominate both inflow and outflow of FDI
explain repatriation of profits
profits made by companies abroad are returned to home country. often a flowback to a developed country. termed a leakage from the economy of the host country
explain aid
financial support for poorer countries mainly from rich ones.
what are the types of aid
multilateral- contributions made by a number of countries and may come through the UN.
bilateral - agreement between two countries usually with mutual cooperation conditions applied.
emergency aid from NGO or red cross
developmental aid
positive and negative of aid to receiving nation
provides humanitarian relief
promotes dependency rather than self reliance
explain remittance payments
transfer of money paid to workers in foreign countries back to their home and family second most important form of income to developing nations. boosts the economy of the recipient nation
